River North condo sells for $4.25 million

Bob GoldsboroughSpecial to the Tribune

River North condo sells for area record $1,012 per square foot -- or a cool $4.25 million

A three-bedroom, 4,200-square-foot condominium near the top of the 55 East Erie tower in River North sold this week for $4.25 million and for $1,012 per feet, a record per-square-foot sale for that building and for a cluster of nearby towers that were built at the same time.

Listing agent Chezi Rafaeli confirmed the sale of the half-floor penthouse, which has three large terraces, 3-1/2 baths, dark wide plank flooring, a fireplace in the living room, a custom Italian kitchen with stainless steel appliances and granite countertops, and a master suite with walk-in his-and-hers closets, double sinks and a fireplace. The sale price also included four parking spaces.

The 54th-floor unit was on the market in 2009 for prices ranging from $3.8 million to $4.5 million. It then came on the market again last year for $5.9 million and later was reduced to $5.7 million.

The seller was Robert S. Luke, who paid $3.455 million in 2010 for the unit, according to public records.

Rafaeli noted that the transaction had the highest per-square-foot sale price for any condo unit sold in a group of buildings built in the middle of the last decade, including the Pinnacle at 21 E. Huron and the Fordham at 25 E. Superior. The highest recorded sale in 55 East Erie is the $4.732 million sale in 2004 of the building’s 8,300-square-foot, 56th-floor penthouse, according to public records.

Rafaeli declined to comment on Luke. Public records do not yet identify the buyers.